Sun Communities closes £950M Park Holidays acquisition, upsizes credit facility to $4.2B, appoints new CFO

SUN COMMUNITIES INC

Acquired Park Holidays, UK's 2nd largest holiday-community owner, for £950M (~$1.3B); 186,044 shares issued to sellers.
Credit facility expanded to $4.2B (with ability to upsize to $5.0B); revolving line $3.05B, term loan $1.15B; maturities extended to 2025/2027.
CFO Karen Dearing retires effective May 2, 2022; Fernando Castro-Caratini appointed as new CFO, Secretary, and Treasurer.
Castro-Caratini previously SVP Finance & Capital Markets at Sun Communities; base salary $550K, bonus up to 130%.
Park Holidays operation consists of 40 owned/managed communities in UK seaside locations; adds UK exposure.

item 1.01 item 2.03 item 3.02 item 8.01 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Karen J. Dearing

Executive Vice President - Special Projects

SUI · SUN COMMUNITIES INC

Effective: 2022-05-02
Successor: Fernando Castro-Caratini
Filed: April 13, 2022, 7:59 PM ET

on April 8, 2022, Karen J. Dearing announced her retirement from her positions as Chief Financial Officer, Secretary and Treasurer of the Company, effective as of May 2, 2022.

Appointed

Fernando Castro-Caratini

Executive Vice President, Chief Financial Officer, Secretary and Treasurer

SUI · SUN COMMUNITIES INC

Effective: 2022-05-02
Filed: April 13, 2022, 7:59 PM ET

Also on April 8, 2022, the Company appointed Fernando Castro-Caratini as its Executive Vice President, Chief Financial Officer, Secretary and Treasurer, effective as of May 2, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Karen J. Dearing changed role as Executive Vice President - Special Projects at SUN COMMUNITIES INC.

Action: announced retirement from positions as Chief Financial Officer, Secretary and Treasurer and will remain as Executive Vice President - Special Projects
Role: Executive Vice President - Special Projects

Exact text from the filing

on April 8, 2022, Karen J. Dearing announced her retirement from her positions as Chief Financial Officer, Secretary and Treasurer of the Company, effective as of May 2, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Fernando Castro-Caratini was appointed as Executive Vice President, Chief Financial Officer, Secretary and Treasurer at SUN COMMUNITIES INC.

Action: appointed
Role: Executive Vice President, Chief Financial Officer, Secretary and Treasurer

Exact text from the filing

Also on April 8, 2022, the Company appointed Fernando Castro-Caratini as its Executive Vice President, Chief Financial Officer, Secretary and Treasurer, effective as of May 2, 2022.

View on SEC.gov

SUN COMMUNITIES INC filing history →

Source: SEC EDGAR

accession 0001193125-22-104282

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